New Fortress Energy secures $700m loan for second FLNG unit, advancing global LNG operations

New Fortress Energy Inc. (NASDAQ: NFE) has successfully secured a $700 million loan for the construction of its second Floating Liquefied Natural Gas (FLNG) unit, known as FLNG 2. This major financial move comes on the heels of the company’s successful LNG production at its first FLNG unit, FLNG 1, which is set to deliver its inaugural cargo in August and commence full-scale production shortly thereafter.

The substantial loan will fully finance the development of FLNG 2, a project that underscores New Fortress Energy’s commitment to expanding its LNG infrastructure. This new unit will be constructed in partnership with Comisión Federal de Electricidad (CFE), leveraging the existing terminal infrastructure at Altamira, Mexico. The development will incorporate the same innovative modular technology used in FLNG 1 and is anticipated to be completed in the first half of 2026.

Wes Edens, Chairman and CEO of New Fortress Energy, commented on the progress, highlighting that the rapid advancement of their FLNG complex represents a significant achievement. He emphasized that both FLNG 1 and FLNG 2 are pivotal infrastructure projects that greatly enhance the company’s financial and operational value. Edens expressed enthusiasm about the progress made so far.

The collaboration with CFE enhances the strategic value of FLNG 2 by utilising CFE’s extensive onshore infrastructure. This partnership is expected to streamline the operational efficiency and effectiveness of the new liquefaction unit. By employing the proprietary modular technology that has proven successful with FLNG 1, New Fortress Energy aims to bolster its LNG production capabilities significantly.

New Fortress Energy, founded with the goal of addressing energy poverty and facilitating a transition to clean energy, operates a comprehensive network of natural gas and LNG infrastructure. The company’s assets, including a fleet of ships and logistics solutions, are integral to delivering energy solutions globally. The expansion into FLNG units is part of its broader strategy to reinforce energy security, foster economic growth, and contribute to environmental stewardship.

With FLNG 1 already in operation and FLNG 2 on the horizon, New Fortress Energy is poised for a notable increase in LNG production capacity. The company’s ongoing investments in infrastructure and technology are set to enhance its role in global energy markets, supporting economic and environmental progress worldwide.